€ 2 200 000
Business with high profitability - 7% per year
Student Residence for sale in Alicante, with High profitability with possible exploitation of 12 months. Ten months with students and two summer months with tourists.
The benefits for rentals to students are around € 140 000 per year plus income from drink and sandwich machine, electricity (students are charged but there are solar panels and there are no expenses). Profitability is above 7% with plenty of room for improvement.
Apartments 60 units with possibility of expanding with 40 more apartments.
Two buildings around the garden and private pool. Two entrances from the street in addition to the mandatory emergency doors.
Apartment: kitchen with appliances, bathroom, desk and bedroom. There are one or two bedroom apartments.
It has common study areas. There is no common dining room since each studio apartment has its own kitchen with appliances and the menus on campus are very cheap.
Apartments with licenses all in order.
100% occupancy. Profitable business with easy management.
There are currently three full-time and 1 part-time workers on the payroll.
The land where these residences are located has the qualification of TERTIARY and will soon become Urban (requested from the City Council), since that area of Alicante is growing a lot and it is planned to further develop the area. This fact will positively change the buildability of residences.
€ 2 200 000